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major interest in land — For value added tax (VAT) purposes, this is defined as: • A fee simple; or • A lease with a term (or remaining term, as the case may be) in excess of 21 years. Only a grant, assignment or surrender of such an interest constitutes a supply of… … Law dictionary

assignment of seller's interest in land contract — A document used in real estate loans when the mortgaged property is subject to a land contract or article of agreement under which it is being sold over time to a third party. If the borrower defaults, the assignment of the land contract gives… … Financial and business terms

assignment of buyer's interest in land contract — A document used when a borrower is purchasing real estate over time under an article of agreement or land contract. The document assigns the lender all of the borrower s personal property, real property, and contractual rights under the land… … Financial and business terms

interest — in·ter·est / in trəst; in tə rəst, ˌrest/ n [probably alteration of earlier interesse, from Anglo French, from Medieval Latin, from Latin, to be between, make a difference, concern, from inter between, among + esse to be] 1: a right, title, claim … Law dictionary

land — n 1: an area of the earth usu. inclusive of improvements, bodies of water, and natural or man made objects and extending indefinitely upward and downward compare air right 2: an estate, interest, or right in land land means both surface and… … Law dictionary

Land rights — are those property rights that pertain to real estate land.Because land is a limited resource and property rights include the right to exclude others, land rights are a form of monopoly. Those without land rights must enter into land use… … Wikipedia